The Department of Economics initially started by offering Masters of Philosophy (Economics) and Doctor of Philosophy (Ph.D) in Economics of Shivaji University, Kolhapur, till 1995.
This was the period in which the CSIBER institute was affiliated to Shivaji University. Post 1995 the Institute became Autonomous. Taking the advantage of the Academic flexibility under the Autonomous status, the department of economics continuously updated and added new courses of economics in the various Post Graduate Programs being offered in the Institute.
Recognizing the importance of quantitative orientation in economics, the department initiated the new Post Graduate program namely, Masters of Science (M.Sc.) in Quantitative Economics, under the Faculty of Science of Shivaji University, Kolhapur, since the year 2016-17.